NSW Caselaw
New South Wales Supreme Court
CITATION : Phillip Allan Yates & (6) Ors v John Norman Phillips Halliday [2006] NSWSC 1346
HEARING DATE(S) : 27/10/2006
JUDGMENT DATE : 7 December 2006
JURISDICTION : EQUITY DIVISION
JUDGMENT OF : Lloyd AJ
DECISION : Judgment for the plaintiffs. Defendant to produce trust documents at his own expence - see par [65] of judgment. Costs reserved.
CATCHWORDS : EXECUTORS AND ADMINISTRATORS – trust account statement – filing of accounts and production of documents sought – request for security of costs for preparation of accounts – distribution of funds from estate – trustee under duty to beneficiaries to give them complete and accurate information as to the administration of the trust – beneficiaries right to seek disclosure of trust documents – trustee bound to keep accounts – failure to preserve or to produce trust documents – inadequate explanation of what happened to trust documents – failure to make reasonable investigations – absolute right of beneficiary to inspect – trust records wrongfully disposed of – a court of equity will not make orders that are futile – breach of fiduciary duty – infringement of self-dealing rule – a trustee who commits a breach of trust may lose his right of reimbursement or indemnity
LEGISLATION CITED : Wills Probate and Administration Act s 85(1AA) Trustee Act 1925 s 59(4)
Aberdeen Railway Co v Blaikie Bros (1854) 1 Mcq 461; All ER Rep 249 Christensen v Christensen (No. 2) [1954] 3 QWN 162 CPT Custodian Pty Ltd v Commissioner of State Revenue (2005) 221 ALR 196 Ex parte James (1803) 8 Ves 337, 32 ER 385 Freeman v Fairlie (1812) 3 Mer 24, 36 ER 10 Hartigan Nominees Pty Ltd v Rydge (1992) 29 NSWLR 405 CASES CITED : Hayes v Wilson (1885) 11 VLR 640 Re Fairbairn [1967] VR 633 Re Simersall; Blackwell v Bray (1992) 35 FCR 584 Re White; White v McLachlan (1910) 10 SR(NSW) 295 Schmidt v Rosewood Trust Ltd [2003] 2 AC 709 Spellson v George (1987) 11 NSWLR 300 Will of Hickey (1889) 3 QLR 162
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